The technical recession continues to loom large over South Africa’s economic landscape and remains a talking point among CEOs, CFOs and HR directors.<\/p>\n
This is according to a new quarterly HR report published by PwC<\/a> <\/strong>which notes that while\u00a0profits are plunging, share prices continue to be under pressure and of course shareholders want a higher return on their investment.<\/p>\n At the same time, employees are continuously faced with increases in living costs, while taking home less pay.<\/p>\n “The contraction of manufacturing output, retail sales, infrastructure expenditure and the downturn in new vehicle sales sketches quite a grim picture,” said PwC.<\/p>\n “The anticipated average increases to be awarded in the next rolling 12- month period will be slightly above CPI (CPI is 5.1% in the third quarter) with the average of 6.1% on a total guaranteed package basis across industry sectors.<\/p>\n “This is indicative that organisations are continuing to be conservative in their approach as they shy away from the double-digit increases.”<\/p>\n Below PwC set out the minimum and maximum expected total package increments for the next twelve month period – as of October 2018.<\/p>\n